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, a world economy in turmoil. derail america's economic comeback. christine romans has answers. "your money" starts right now. >>> another week of volatility in the markets. the reason, we global unrest and uncertainty about the fed's role in propping up the economy. i'm christine romans, this is your money. from space, earth appears peaceful. take a closer look. while signs point a u.s. economy ready to take off, the rest of the world is struggling to take flight. riots in turkey. slowing growth in china. unrest over harsh cuts in greece. from extreme greed to extreme fear. concerns over a global recession already creating volatility for investors. this week saw the biggest single day decline on the dow this year. >> i would give our economy a b to b plus. >> the other guy getting a d is dragging us down. >> why might you not be feeling optimistic? housing prices on the rise. less unemployment numbers. but will the u.s. be dragged down by a world economy in turmoil. >>> want to bring in keith, ceo of risk management and michelle myers, from bank of america. let me start with you, keith. yo
on whether the economy continues to improve. gone in two days were was last two months of gains in the stock market. for the year stocks are up more than 12%, even if a lot of us have doubts about the health of the economy. >> unemployment needs to be fixed, housing market. >> i'm worried about the economy. >> reporter: what is next? the year is almost half way down. corporate reports will come out soon and experts are nervous, housing recovery, mortgage rates are inching up. >> these stocks will be volatile until we get clarity on what the feds are doing. >> reporter: there is no shortage of opinions even inside the fed itself. jim bullard said the bond buying was inappropriate time. >> i think the fed was purposely trying to take air out of the housing market and stock market. they don't want the stock market going up 20% every six months and house prices rising 10% year after year. >> reporter: they took bernanke at his word, the economy is recovering and a policy charge is a short-term shock to the system. >> we're babying, over medicating this economy. this economy is like a 12-year-old
the fedotenko start scaling back its bond buying program at the end of the year if the economy continues to improve. his comments at the meeting shook the stock and bond market. it's greater optimism. the unemployment could drop to 6 point phone 5% in 2014. that's a year earlier than previously thought. they're still not concerned about inflation and think gdp might expand faster than 3% over the next two years. bernanke tried to draw a distinct line between tapering and the end of qe 2. >> the most important thing that i just want to convey again is that it's important not to say this date, that date, this time. it's important to understand our policies are economic dependent. >>> so coming from the fed. equities sold off in the united states. you can see here just about 35, 40 stocks on the dow jones 500. ftse up 1 2/3. the pmi number. basic resources are the biggest seller. that comes off with china, hsbc pmi down at a nine-month low. new orders down. we're getting more on that from munich. the market reaction, this means commodities are weaker as well to date. spot gold down 3% this
/3 of the economy. the treasury department said that the shortfall was more than 25%. it's part of the reason that stoo standard & poors raised the rating of the u.s. to stable. the product line of the mobile operating system at the annual developer's conference, the software will be developed this fall, and has easier sharing of photos. it's a nervous week for the markets for sure. worries about the federal reserve and other concerns, do you stand pat or make changes in your portfolio. good to see you both here. thank you for joining us. let's talk about this week, rebecca, it felt like there was a change in feeling this week, we know the fed will stop at some point, but really, really volatile markets. up 200, down 200 and then a big bounce back on thursday. were you surprised at the volatility this week? >> a little bit, yeah. we all knew this day would come, but we never knew what it would feel like, because we have never lived through anything like this before. the easing and the monetary policy in u.s., across europe and japan is something that there's no precedent for. we knew there wo
contributes to gdp and makes up more than two-thirds of the u.s. economy. america is on track with the smallest deficit for five years. the -- a fall of more than 25%. a reason standard and poor's raised the credit rating from negative to stable. a the software will he easier photo sharing and it's siri voice activation software. >> the dow losing streak, bond yields rising, worries about the federal reserve. what to do, stand pat? joining me right now, the chief investment officer, and jason, chief investment officer. thank you so much. so, rebecca, not like their there was change in sentiment this week. now we know the fed is going to stop at some point, but really, really volatile markets. up 200, down 200, then a big bounceback on thursday. were you surprised? >> a little bit. we all knew the day would come butl the quantitative easing, the monetary policy in the u.s. and europe and japan, something there's no precedent for. so we knew there would be some sort of market reaction when the tone started to change, but this is bigger than most people expected. >> what does the
? this global economy. certainly, ups is a definite no whether to where we are headed. right now, checking out stocks. nicole petallides on the floor of the new york stock exchange. nicole: the dow jones industrials down about 28 points. not to off the unchanged line. there is this wait and see mode today. the last trading days have been up more than 100 trading points. the volatility is back. it has been the name of the game since may 22. we heard that tapering maybe in the future. right now everyone is just waiting to see what the fed really has to say. the language is so key here. everyone is waiting to see. right now you can see that the dow is down just slightly. lori: you summed it up beautifully for us. we will get one of the most federal reserve statements ever and less than an hour. will we get any clue as to when tapering will begin? thank you so much for joining us. what are you expecting to hear from the fed today? >> i expect no change. the statement is key. i will look for the labor market. is this the best that we are going to get? if, yes, i expect the taper to put off. lori: o
effect. >> i want to get your take tot economy broad lly speaking, lisn to the former ceo of ge. >> things are not bad, things are not bad. this is a 2% he economy. it's not a disaster. it's a 2% economy and we will not create enough jobs with this level of economy to get out of the 7s. >> so 2% economy. do you think the market is ahead of itself knowing we are in a 2% grower? >> personally, i don't think so, the phrase we have been using is tina, there's no alternative. and i agree with rebecca, that you are not in a situation where you are going to be getting high real rates from bonds. i think the back up in bond yields was a reminder that you can lose money, particularly in bond funds. so it's a very strong environment. i think, it's a strong reminder that equities are an important part of the total return that investors are seeking. >> and i think one of the good things that he said about unemployment rate and it not coming down quickly. you know, consumers doing well, businesses are still cautious and we are in a global economy and a lot of u.s. companies today, depend on
this year. if they remain broadly aligned with our current expectations for the economy, we will continue to reduce the pace of purchases in measured steps through the first half of next year ending purchases around mid year. >> the bonds finished in the red as the blue chip index showed its seventh straight move. all the main s&p sectors closed lowers. the worst performers were defensive sectors. telecons. this is what people had been warning us, look out for those stocks that act more like bonds. that's exactly what happened yesterday. the yield on the ten year treasury, it hit a 15-month high if you take a look at that. 2.426%. this is a concerning move. this morning the dow futures are indicated down triple digits once again. this is on top of a 200 point plus drop yesterday. it doesn't look like there's going to be a quick bounce back, at least not this morning. >> we have a number of newsmakers to help us make our way through all of this, get through these questions raised by the fed bank. including alfred broaddus and former minneapolis fed. we have john stumpf. cisco is going to h
-- pumping billions and billions of dollars into the economy. is it possible that we have gone from a tech bubble to a housing bubble to a fed bubble? >> it's absolutely a risk. the real question is is this easing? all this billions and billions of dollars, trillions of dollars really of dollars the federal reserve has printed and pumped into the economy. have they created a real enduring economic expansion? can housing exist? can housing keep recovering even without ultra-cheap money? can the housing market keep rising without ultra-cheap money? can housing growth continue? that's the bet that ben bernanke has been making the past couple of years. the question is is the debt going to pay off, or will we be right back in this mess we were five years ago? >> isn't the case when former chairman allen greenspan greens retired, he was pummeled because of the housing bubble. isn't it the case, since greenspan left, we've become more liberal with our monetary supply as far as pumping more money into the monetary supply. money has been basically free for investors and businesses for the past seve
, but they are not focusing on the right thing which is growth, growth, growth. the european economy is in a six-quarter double dip recession. the u.s. is sub par. japan is trying to reignite, and i'm especially critical of european monetary policy which is way too tight. and speaking of monetary policy, our markets are more obsessed with it than ever. strong stock buys this afternoon, based on just one reporter from "the financial times" and his ill-advised, uninformed conjecture about what the fed would do, and then when that same reporter tweeted everybody that he really had no idea what he was talking about, well, stocks regained most of their losses. crazy story. an nsa leaker edward snowden points his finger straight at the big tech companies. they said they should resist the government's demand for user information. wrong. they should abide by all our laws, especially national security laws. all those stories and much more coming up on "the kudlow report" beginning right now. >>> let's start right away with cnbc's michelle caruso-cabrera. she is covering the g-8 summit. michelle, good eve
many financial stocks particularly those exposed to the domestic economy. david: okay. >> the u.s. is well-capitalized -- david: i have to put you on pause there when you're on financials. we'll take issue with you. we have earnings coming in from oracle. jo ling kent what do the numbers look like? >> dave, we have an 87 cents per share eps which is exactly as expected. $10.95 billion which is a miss on revenue. breaking down numbers a little bit, we see a quarterly revenue of $849 million. what is interesting, new software license revenues were up 1.4% to 4 billion. they were expecting to see this go from, between 1 and 11% that is certainly on the low end. that is a very important area for oracle to grow especially if other companies get into this market. david: i want to go back to todd. we have a lot of news to cover i don't want to focus on any one stock but does this tell you anything about oracle? >> this is common throughout the entire earnings season. miss on the top line. that is the whole story. oracle looks pretty good chartwise. with the current market conditions it
, professional sports. die-hard the know where to begin, a vast amount of the economy is based on taste and subjective values. there is no reason why there couldn't be a society in which we do get paid for social media, the other people do. what is the point of that? and here is where there is a leap of faith required. capitalism can work. markets can work. markets work when they start helping people coordinate to create more wealth and more positive effect for each other than they would have otherwise and when you have a market that grows as a result more people are better in the trading system that sharing system. that happened again and again and it is the real effect and is entirely appropriate especially for information network. so yes, you would be paying but you will also get paid. the nature of getting paid would be unlike any payment anyone has experienced before. we are used to the idea that you pay for stuff more often than you get paid. you only get paid every two weeks for your salary or whatever royalty check and always buying your coffee and spending in little drips and d
the buying spree. >>> meanwhile, across the pond they are talking the global economy. the g8 summit is under way in northern ireland, but it's not all about monetary policy. cbs reporter tara mergener on the discussions expected on u.s. wiretapping and syria. >> hello, everybody. >> reporter: president obama and british prime minister david cameron visited a northern ireland school where students are learning about the g8 summit. >> i think i just went outside the lines. >> reporter: but soon, the president and his counterparts turned their attention to the global economy. >> i'm pleased to join these leaders to announce the launch of negotiations on a new trade agreement. >> reporter: the economy is not the only topic at the g8. the civil war in syria is expected to dominate talks including president obama's meeting with russian president vladimir putin. russia supports bashar al-assad and sells him weapons. putin opposes president obama's plan to give military assistance to rebel forces trying to overthrow the government calling the fighters barbarians. >> are these the people you want to
, given the fact that we are becoming energies efficient with fracking? our economy is growing, the dow is up today 161 points, can we ignore the world events and continue to go on with the kind of relationships we used to need? >> no. i think it is more important that america become a player. we still have so many other issues. as the world is getting smaller, america must exert their influence in ways that were unforeseen 20 or 30 years ago. we have to be engaged. if we take an internal role of we are not needed as we were, i think that we do it at our peril. lori: a lot of economists are very concerned about this currency war that is underway. you have countries at the g8 representing $7 trillion in global economic wealth. do you think that that topic will come up? how do you realistically have a discussion about a trade deal if you do not talk about what is really going on. >> there is no question about it. if we will have a trade agreement, it has to be free, it has to be fair, and it has to be equitable to all parties. if one party has an upper hand, it is honored as a breach. com
'll give the economy before it decides to reduce the monthly asset purchases. to me, the market has kind of adjusted its own expectations both for the worse and better, much more than the fed's message has changed. so i feel like it's really a lot of suspension been drained out of this meeting. by the way, the market itself, the treasury yields have calmed down. >> all right. amy, let me ask you in terms of allocating capital. where are you seeing the flow right now in terms of putting money to work? where is the conviction out there? what sector? >> well, hi, maria. from an options perspective, it's pretty interesting, because i think a lot of folks out there would say the fed's probably not going to say too much tomorrow. it may delay things out later. our own house view is for an october tapering session. however, from the options point of view, you've actually seen short-term term structure come up. so to translate that, that's basically saying near term, more volatility is expected relative to the outer terms. so the options market is actually expecting something for tomorrow, and y
, and the future in 30 minutes. talking about how you size up the economy today, how we got into such a bad place in 2008, and what economic policy makers need to do next. i would like to start talking about the present. how do you assess the global economy and the u.s. economy, and the extent to which there is any momentum or possibility for faster growth? >> basically, i would describe both the united states and the rest of the world as being in a sluggish environment where effective demand, if we can use that old-fashioned term, is inadequate to galvanize the system in the growth. yet there is not enough downside weakness to create any significant short-term changes that i can see. there are very huge imbalances out there. what i find startling is there are so many things -- which nothing is happening. for example, the european central bank had this huge trillion-euro rise a couple years ago of the assets in their balance sheet. then it came down a little bit. and for the last several months it has been absolutely flat. in other words, the extent to hich nothing is happening. it is just not cr
to america's biggest corporate secrets and that's something that could be damaging to the american economy. >> well, it can. i mean, we are seeing a dramatic shift of intellectual property from west to east. what people tend not to understand is that businesses and governments create store and transmit information on the same porous internet that you and i use in our personal relations. secrecy from privacy are pretty much the same thing but they are just asserted by different actors, and you and i assert a private interest, and your government and employment is secret interests, and it's somebody asserting the right and the ability to keep somebody else from knowing something. and since we are all transmitting and working on the incredibly porous networks where identities are easy to spoof, both privacy and secrecy are heading south rapidly. >> i want to look at some of the sectors under attack. manufacturing top the list at 24%, and government, half that share, and then these are top industries attacked in 2012. how does this affect the economy in the long run? >> let's take something li
people have looked at the economy and said, wait a minute, we're not nearly to the point where the fed can take its foot off the gas. but if you look at their forecast for not only this year, but even moving forward, they are a little bit ahead of where consensus is and that's key to what they. >> 2.6. i want to see loan growth. you don't have new splurge in housing, obviously, because the people are kind of caught up by the rates. but, yes, the stocks that acted well last week, i used again mills and bristol meyers, imminent recession in 8 to 12 months. they bottomed. you don't want to see that. in other words, this is the fed step as way and people believe that there's nothing there. i'd like to think the fed stays in, until we get more than one month of good loan growth. >> to that point, you are talking about my multiple stocks there. they had something to be taken out of them given what were, what multiples -- >> 18, 20. >> higher than some of the peers in the biotechnology sphere which is hard to believe because they're going at a good rate faster. >> i don't want to get caught i
about the underlying economy. >> it's the economico outlook. >> you don't think he'll use the word? >> i don't think he'll use the letter. >> people will ask questions. >> but as long as -- as long as it doesn't start with a t. if there is a t in the world somewhere, he may use it. >> we could have a drinking game. first question has to be about tapering. will use the word taper. >> either tape ever or your ter. >> i was at a party with a drinking game, but it was with lemonade. makes no sense. they're practicing for the day when -- legmonade, you'll just get sick. >> that's okay. learn a lesson. >> i know. >> let's take a look at europe. again, futures are indicated higher and that may be because the expectation is that the fed will in fact slightly lower their economic outlook. if that he another case, you would expect they would not be pulling qe anytime soon. but right now the market is barely bunching in europe. in asia, you can see the nikkei was up about 1.8%. so volatility continues there. hang seng down by just over 1%. oil prices right now are indicated up about 50 cents. wti i
and it makes the economy groechlt they say we are safer here. i continuing is an embarrassment and sends a message around the worl that the champion of liberty is move nothing the wrong direction and a bad step for the united states. >> steve, isn't there a danger of sitting back and letting the government decide? >> one of the legitimate functions of government is protecting us from external enemies and the constitution was written by framers who understood that governments that protect you can abuse you. take it out on the government. rich hit on something. if the company has in writing a certain order or request, and the statute is cited, the company is obligged to do it. if you don't like the law change the law. >> we want to stop the bad guys. companies can stop the government saying we are getting a ton of lawsuits on our doorsteps and in india, they are allowing tax officials with access to google and facebook data. >> the irs is different. >> india is pressuring to have government officials on-site at research in motion. >> by the way, hold on a second sabrina. why is the irs dif
of eight summit is supposed to center around europe's ailing economy. but as cbs reporter susan mcginnis reports another topic is expected to draw attention. >> reporter: president obama left air force one holding daughter sasha's hand. for the next two days, he will meet with world leaders here in northern ireland which he sees as an appropriate place to talk peace. >> beyond these shores right now in scattered corners of the world there are people living in the grip of conflict. you're their blue print to follow. we're the proof of what's to follow. >> reporter: russian president vladimir putin says president obama's plan to arm rebel fighters who he calls barbarians will hurt the chances for peace in syria. >> are these the people you want to support? are they the ones you want to supply with weapons? >> reporter: president obama and president putin are scheduled to hold private talks this afternoon. the conversation comes after a new report reveals the u.s. and the uk spied on russia and others at another summit. the british newspaper the guardian says former nsa contractor edw
situation, but not so much about the economy, the broader economy, and their own country or the world. my question for janet is, the surprising thing to me about this report is that north america and the developed countries are actually back on top when it comes to wealth creation. if you look at china, you look at brazil, russia, the developing, emerging markets, which are supposed to be the new thing when it came to the world of wealth, and they're really secondary now. did we all get too bullish when it came to wealth creation in emerging markets? >> i think we're looking at short-term patterns here. the belief is when we look at asia-pacific, some of the developing economies, they will probably be back on top in the near term. particularly asia-pacific, which we think will have the fastest growth rate to 2015 where we think world wealth will be -- find net worth over 55 trillion. think about the volatility in the marks. in 2010, 2011, and think about what the u.s. markets did and, quite frankly, u.s. real estate. so it's really not a surprise. we flip-flopped a little bit in 2012 with
it a turn around in a sign maybe the global economy is turning ? >> i do not aee. i think when revenues drop, there are all sts of ways that customers as we've seen, that can impact the bottomine, by one, just being mere efficient. -- more efficientbut what a revenue dropsith a fedex or ups that is a sign of the economy not only flat lining but continui to slide down, that is why i think that we're going to be in trouble. yo know come next few months. ne: dave, topine thing begins top out, watc watch out. >> a gd news-bad news thing with them, revenueas up a little bit but not to exctations, and on thatront, i wld say, yeah that is not a good signal about the economy. not a big beats. neil: but. down a broad. -- abroad. >> it was down. neil: speaking of a quagme not getting any less qaagi e . >> you are right. >> here is the thing. using technology to drive costs out. the math they continue to do that that is a good sign because everything needs to do that. neil: l right, if at first you don't succeed find a better way to get them tpend, walmart all but admitting be on visa, temping to dislo
been down. overall it has been down, they are cost-cutting it will help the bottom line, economy showing some life. if you have been on a plane they are jam-packed. neil: how can that be pleasant? jared, i know you don't know what commercial flying is, but how can it be pleasant? >> i am just not, i am a new pilot. i fly privately. neil: listen to you. >> no, no, i wish i could live the life captain of a major airline 30 years ago. you get on a plane now, it is like a cattle ride, we have gotten okay with that, but i don't think that buying an airline is a good investment, they are bound by the price of oil, they are cutting costs yes, they are making planes more fuel efficient, but again this is predicattd on oil, and communication that changes. neil: but, do you buy that people are happier with this experience, i do not. >> no. neil: i think they are interviewing zombies. >> the plane is full. neil: you could have a blaine full of zombies. >> no matter what you carry, buy the stock, demand it there. >> okay. >> housing starts? you have who to wonder -- you have to wonder with l
for the stock market and the economy, they're trapped like rats. especially after today's rally. they can't afford to have this market stay higher. they're underinvested. they haven't made the money they should have! so they have to make themselves right with the napalm attack. the bears will be visible to all. their negatively will be up by the media as though it's the truth about what the fed actually said. the bears will hope that the situation will then become self-fulfilling as the tape action determines the narrative and they set the agenda. why wouldn't they? why not try to define the event? after all, who wouldn't believe the fed is causing trouble or the market is in trouble if the futures take everything down instantly. it's death defying, come in and buy. that's why at first, it will look like no stocks will have survived the onslaught tomorrow but 2:30. then a little while after, maybe by 3:15 some stocks will climb out of the b-52, but not all. some may never get out. mostly the real estate investment trust and the high yielding bond equivalents they might be buried alive. ki
'll find the president more engaged. i'll stop there. essentially the basic need to get the economy going we haven't talked about that yet. the tax reform is going to help the american economy, health care jobs. this competitive world of ours, everything we can, legitimately and reasonably to help american people, help american small business, how multinational corporations to compete better and have less red tape and be less hidebound said they can focus more on jobs. it will help spur the economy. >> i would say the tax code was broken in 1986 and is broken now. i reference this hearing. the three witnesses said the tax code is broken and i would agree on everything maxed site. the other thing habitat is the world has changed since 86. the ability to invest around the world with the click of a mouse is so much easier. we have to look with other countries have done as well and have modernized tax systems. we have an international business side and the other thing is somewhat similar is you have to be very persistent. that reform would not have happened without continual persistent enough
, are very focused on trying to restore the faith in government, as well as their faith in the economy. >> canter said he believes the recent hearings on capitol hill, many launched by his fellow republicans, will not only help gain clarity on controversies but prevent similar controversies in the future. >>> big dad of big business and big government. according to apple, federal, state and local authorities made between 4,000 and 5,000 data requests about apple users in the last seven months alone. anchor of "your money."is the so, do we know how many of these were related to national security? >> no, we don't know exactly how many were related to national security. what companies say is they can only tell us all federal, state and local law enforcement is 4,000 to 5,000 requests covering accounts or devices. but what we do know, apple says most of these are related to typical police work. what do we mean by that? missing persons and looking for someone with alzheimer's and trying to prevent a suicide and mreesz crime investigations like cyberstalking and the like. that i what most o
of the $72 trillion global economy are meeting to discuss a whole array of issues. that set by the agenda of david cameron. key nations such as the united states, russia and japan are all here to discuss trade issues, there are great hopes of a trade deal between europe and the united states that could be worth up to $100 billion in the united states. we're going to be talking about tax avoidance issues which could have ramifications for companies such as amazon and google. those companies say we are abiding by the laws of those countries. elsewhere the whole syrian issue overriding a lot of talks. there's a big dispute between president putin of russia and the rest of the g8 nations about what to do. president obama said to me earlier today, the talks had been excellent between himself and russia. there appears to be an opinion about how to resolve this crisis. for nightly business report, i'm steve sedgwick. >> in another bit of international diplomacy. the european union is likely to approve the plan without any conditions. the $10 billion deal would combine the owner of the new york s
, so when does that mess over there start forcing gasoline prices higher and maybe the economy, not just here, but globally lower? sue is at the new york stock exchange. hi, sue. >> hi, ty. food to see you. when a monday on wall street to start out week. the dow has been on the move, smartly higher. right now a triple-digit advance on the dow right now of 166 points. the s&p and nasdaq also in green territory with the s&p up just better than 1%, and the nasdaq is up 1.25%, so actually the nasdaq is faring the west of the three indices 3-m, delphi a hitting all-time highs and boeing, staples, amat hitting 52-week highs. the dow having a triple-digit move, but this is the fifth straight move th session where we've seen that kind of move. a look at the vix and we'll talk about that in just a second. the last week it was up 8%, and that brings us to bob pisani who also tracks the volatility. >> we do, and while it's been up since may 22nd when mr. bernanke gave his congressional testimony, the important thing is steady as she goes. the last few days, real found a floor. look at the
economy so much better than the lousy one. i mean, it makes this life more livable. >> reporter: the construction is already creating more cash for san jose. at the beginning of the fiscal year, last july, they projected that permits -- revenue would be with b $20 million. by the time the fiscal year ends at the end of this month, it turns out it's going to be about $7 million more than that. good news for the south bay economy. in san jose, kris sanchez, nbch bay area news. >>> we have breaking news at the caltrans station on 22nd street in san francisco. service has been shut down in both directions because police are trying to apprehend an armed man on the overpass above that station. minutes ago we learned that caltrans officials said hostage negotiators were able to talk the man down with no further incident. he's now in custody. caltrans is still making arrangements for other trains to carry riders to the millbrae station where they can take part until they get back up to speed. caltran tickets are being honored on bart evening. a spokesperson says to expect significant de
into the economy but with the economy recovering, there's talk the fed may soon turn off that spigot. but when, when, when? investors hoping not soon. sparking a rally yesterday with no clear answer. the dow moving up and down 1 soo points the past six sessions. today, it's b-day, all about ben bernanke. to taper or not to taper. that's the way the banks at cjl puts it. chrysler caved. it took it down to the wire but in the end, chrysler decided to recall 2.7 jeeps. the automaker resisted pressure from the government waited until just the deadline, the government could have forced the recall of all of those jeeps. the jeeps in question, the 1993 to went 03 cherokees and the 2002 to 2007 jeep liberties. chrysler still maintains they are safe but will look over the vehicles -- voluntary recall to look over the vehicles and fix anything that needs to be fixed to avoid a fire. >>> the nsa snooping controversy continues, google filed a first amendment plea against the nsa. google wants to share information with the public about secret government programs. google said its reputation and business hav
to improve the economy, service and public safety. and others have gone to extreme measures to ensure their privacy. >> got a laugh from a camera man. >> he was having a heart attack. >> pab, interesting survey, we have lost our privacy, we are not happy about it, but we do not think there's anything we can do about it. about right? it's almost like the weather. >> yeah, i mean, it is very hard in this day and age to opt out, you can still opt out from the advertisers, you do not have to be on facebook or buy things online. the problem is more the government, you cannot really opt out when they are monitoring all of your patterns and all that. and we know this government will try to draw conclusions about you based on your ideology. terrorists threats being people who are in favor of gun rights and veterans and what not, and we know they will abuse their power to target those with whom they disagree. >> the problem with abuse is that it can be applied to any department that they disagree with. in general, most people saw the up sides of the data collection. because they have grown up
for a monday. housing continues to be a bright spot on our economy. homebuilder sentiment jumping to the highest level in seven years. gold dropping four and a half dollars to $13.83 per ounce. crude oil flat settling just under $90 per barrel. the bond market, the yield on the ten year rose to its just over 2%. developments in the irs scandal. irs supervisor in washington d.c. admitting she was personally involved in the viewing of some of the earliest applications for tea party groups who were seeking tax-exempt status, including dozens of requests that were neglected for more than a year somehow. her testimony to congressional investigators directly contradicts claims by the internal revenue service leaders just a small group of agents in cincinnati where the only ones responsible for the targeting of the tea party and conservative groups. and a cincinnati-based irs agent confirms pro-israel groups were also targeted -- well, treated differently from other applications that think is a way that they put it. he says, those requests were routinely routed to a unit that examines gr
are on the decline. new poll shoe a third of americans they are likely to hold back because of u.s. economy. stocks are pretty quiet. we do have a federal reserve meeting and get a press conference on the fed later today. bloomberg silicon valley index is trading a slight bit higher. consumer reports said vigorous testing on several brands of toilet paper. walmart white cloud came out on top. they based it on four criteria, machinery and people to come to their conclusions. they tested the strength of paper. also doing well on tests, great value and wal-mart brand and northern did well. they turned up? stinkers. essentials was at the bottom and whole foods was just slightly better. >> you knew you were going there. okay. keep rolling along. >> all right. miss utah did not win last night but after she gave a rambling to a question about the gender wage gap. >> our team as the leaders and we true need to try to figure out how to create education better so we can solve this problem. >> kristen: what happened? this is what she told jimmy kimmel. >> i hear the question and i just started talking. once i
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